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Form 8703: Annual Certification of a Residential Rental Project
IRS Form 8703 is the Annual Certification of a Residential Rental Project, used by the operator of such a project to certify its status to the IRS. A penalty of $100 applies for failure to comply with section 142(d)(7) requirements.
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IRS Form 8703 - Annual Certification of a Residential Rental Project
IRS Form 8703 is the Annual Certification of a Residential Rental Project, used by the operator of such a project to certify its status to the IRS. A penalty of $100 applies for failure to comply with section 142(d)(7) requirements.
Risk Radar
Scan points- 1Ensure you check the correct box (continues to meet or does not meet) in Part IV before signing.
- 2Filing without completing a separate Form 8703 for every single residential rental project.
- 3Not checking 'No' in Part I if the project has not been amended or does not meet test requirements.
- 4Omitting the owner’s taxpayer identification number when filing Form 8703.
- 5Entering a P.O. box as the address for the building/project instead of a physical location.
Plain English
This form allows an owner or operator of a rental property to tell the IRS that their building still qualifies as a residential rental project. By filing Form 8703, the entity confirms the project meets specific rules under Internal Revenue Code section 142(d). This certification is necessary for bonds issued for the project to be considered 'exempt facility bonds.'
Submission Date
- Filing date: 2021-12-01 22:10:39
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when an operator of a residential rental project has made an election under section 142(d) of the Internal Revenue Code and needs to provide annual certification.
- Do not use it when filing for a single project if you are certifying that the project does not meet the requirements of subsection 142(d) (in which case, check the 'does not meet' box).
- Check Form 8038 instead when reporting bond issue details related to the project.
Form selector
Use this form or another form?
Financing involves more than one tax-exempt bond issue
A separate statement must be attached for each bond issue listed in Part III.
✓ Ensure all issuer details match Form 8038.
Filing an amended return to correct errors or change data
The amendment must include all original information plus the new or corrected data, and an explanation is required.
✓ Attach a written explanation for the amendment.
Project has multiple buildings with low-income housing credit allocation
A schedule listing the Building Identification Number (BIN) for each building must be attached to Form 8703.
✓ Do not list BINs on the main form if you have more than one building.
Deadline or filing window
Form 8703 is due by March 31 following the end of the calendar year being certified. The filing must happen annually during the qualified project period, as defined on line 2 of the instructions. No specific extension mechanism is detailed for this form.
Checklist
What you need before filling it out
Project Status Check
Checkbox selection ('continues to meet' or 'does not meet') · Part IV (Page 2)
Operator Taxpayer ID Number
The numerical identification number of the project operator · Part I, General Information
Bond Issuer's EIN
The Employer Identification Number for the entity issuing the bonds · Part III (Line 15)
Qualified Project Period Start/End Dates
Calculated based on unit occupancy milestones · Line 2 (Part I)
Penalty Amount
$100 · Section 6652(j) reference (Page 3)
Before you submit
- 1Complete Part I by entering the Operator's and Owner's full contact information.
- 2Check the appropriate box in Part IV confirming if the project 'continues to meet' or 'does not meet' requirements.
- 3If applicable, ensure all fields in Part III (lines 14-20) are completed for each bond issue.
- 4Verify that the date of bond issue (Part III, Line 17) is correctly entered.
- 5Confirm the Project Operator signs and dates the form under penalties of perjury.
- 6If filing an amended return, ensure you check the 'Amended Return' box and attach a reason explanation.
- 7Verify that the project address listed in Part I does not use a P.O. box.
How to file this form
- 1Complete all required fields on Form 8703, ensuring one separate form is used for each residential rental project.
- 2Sign and date the certification section (Part IV) as the Project Operator under penalties of perjury.
- 3If applicable, attach a schedule listing Building Identification Numbers (BINs) if more than one building in the project was involved.
- 4Mail Form 8703 to the Internal Revenue Service Service Center located at Ogden, UT 84201 for official receipt.
Known limitations
- 1A separate Form 8703 must be filed for each residential rental project.
- 2The form is used by an operator of a residential rental project that made an election under section 142(d) to determine if the project remains qualified.
- 3If an amended return is filed, it must provide all the information reported on the original return, in addition to the new or corrected information.
- 4The address provided for the building/project cannot be a P.O. box.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition is Revision December 2021 (Rev. 12-2021). The IRS directs users to www.irs.gov/Form8703 for the latest information regarding Form 8703.
What changed or needs a fresh check
- Edition date — confirm the revision date reads December 2021.
- Fee — Not stated in the official source.
- Mailing address — confirm the Service Center is Ogden, UT 84201 (for filing).
- Signature — confirm the signature section includes space for Project Operator, Paid Preparer, and Self-employed status check.
Quick Facts
Downloads
After you file
- 1Keep a copy of the completed Form 8703 after filing it with the IRS Service Center in Ogden, UT.
- 2If an error is found later, an issuer may file an amended return to change or add information reported on a previously filed return for the same date of issue.
- 3When filing an amended return, attach an explanation detailing the reason for that amendment.
- 4The IRS may disclose the form's information to cities, states, the District of Columbia, and U.S. commonwealths or possessions to administer their tax laws.
Sources
- SRCInstructions p.1 — A separate Form 8703 must be completed for each project.
- SRCInstructions p.1 — The form is titled Annual Certification of a Residential Rental Project and governs the certification process.
- SRCInstructions p.3 — The operator of a residential rental project that made an election under section 142(d) must file Form 8703 annually.
- SRCInstructions p.3 — The deadline to file Form 8703 is March 31 after the close of the calendar year for which the certification is made.
- SRCInstructions p.3 — The form must be filed with the IRS Service Center in Ogden, UT 84201.
- SRCInstructions p.3 — A penalty of $100 applies per failure to comply with section 142(d)(7) requirements unless reasonable cause and not willful neglect is shown.
Common confusion points
Who must file Form 8703?
The operator of a residential rental project for which an election was made under section 142(d) must file it annually.
When is the deadline to file this form?
File Form 8703 by March 31 after the close of the calendar year for which the certification is made.
What happens if you miss the filing deadline?
A penalty of $100 may apply under Section 6652(j), unless reasonable cause and not willful neglect can be shown.
How do I know if this form applies to my project?
The operator must file Form 8703 annually during the qualified project period, which is defined on line 2 of the form.
What information must be included for the Operator and Owner in Part I?
The name, address (including ZIP or foreign postal code), and taxpayer identification number of both the operator and the owner are required.
When filing an amended Form 8703, what do you need to do?
Check the 'Amended Return' box in the heading, provide all original information, and attach an explanation.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Filing an amended return to change or add information reported on a previously filed Form 8703.
Questions about IRS Form 8703
What is IRS Form 8703 used for?
This form allows an owner or operator of a rental property to tell the IRS that their building still qualifies as a residential rental project. By filing Form 8703, the entity confirms the project meets specific rules under Internal Revenue Code section 142(d). This certification is necessary for bonds issued for the project to be considered 'exempt facility bonds.'
Who must file IRS Form 8703?
The operator of a residential rental project for which an election was made under section 142(d) must file Form 8703 annually. A separate Form 8703 must be filed for each distinct project.
What information does IRS Form 8703 require?
Part I collects general information like the taxpayer identification numbers and addresses of the operator and owner. Part II details annual determinations, such as the total number of units in the project. Part III lists any bonds issued, and Part IV contains the certification signature.
When is IRS Form 8703 due?
Form 8703 must be filed annually by March 31 after the close of the calendar year for which the certification is made. The filing must occur during the qualified project period.
Where do I file IRS Form 8703?
The form must be filed with the Internal Revenue Service Service Center located in Ogden, UT 84201. No specific mention of e-filing availability is provided on the main pages.
How do I complete IRS Form 8703?
First, complete Part I with general project details. Next, fill out Part II based on annual unit occupancy statistics. If bonds were issued, detail them in Part III; otherwise, skip to Part IV. The operator must then sign the certification in Part IV under penalty of perjury.
What happens if IRS Form 8703 is filed incorrectly?
Section 6652(j) provides for a penalty of $100 for each failure to comply with the section 142(d)(7) certification requirements, unless reasonable cause and not willful neglect can be shown.
Who must file Form 8703?
The operator of a residential rental project for which an election was made under section 142(d) must file it annually.
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